The economic and financial changes we’re all going through are unprecedented, and trying to keep up with it all is an impossible task. This newsletter presents some of the most important, interesting, and unexpected economic and businesses news of the week based on a set of statistics. This list is compiled by some of the economics and business experts at EvolvEd, who offer lessons in subjects from basic economics to stock picking (to much more).
- $10 million is what Shake Shack returned to the federal government after complaints it was exploiting a program designed for the relief of small businesses. The $350 billion program, passed as part of the CARES Act, has been completely exhausted only weeks after its launch.
- $2.9 billion in aid was sent to US airlines by Congress in the first of a series of loans to the carriers. Ridership is down roughly 95% from the same time last year.
- -$37.63 was the price of a barrel of West Texas Intermediate crude oil on Monday, April 20th. Oil prices have slumped to historically low levels due to demand shocks and producers running out of places to store all the oil that they cannot sell.
- 200 million is the current number of users of Zoom Video Communications, up from 10 million a year ago. The video communication platform has become increasingly popular during the spread of Covid-19.
- 3,000 is the number of protesters who turned up to an anti-lockdown rally in Lansing, Michigan on April 15th. Gretchen Whitmer, the Michigan governor, has become a target for those who feel the pain from the quarantine efforts to stem Covid-19 are worse than the disease itself.
On EvolvEd you can find experts to teach you the fundamentals of business, economics, stocks and many more topics. Go beyond the headlines by truly understanding what is behind the economics that governs our lives.